RBA governor: AI could be a bubble and is adding to inflation, not productivity
nordicinst · x · 2026-09-22
The Guardian reports that Reserve Bank of Australia governor Michele Bullock said AI could be a bubble with no evidence yet of efficiency gains: rapid adoption and datacentre investment are adding to inflation rather than growth, and all central banks are watching the risk of a messy tech valuation slump.
She cited Korean central bank research finding employees using AI produced the same output while working 1.5 fewer hours a week. The remarks came ahead of an expected rate rise, contrasting with the government's claim that AI will fix Australia's economy. The article also notes Meta shares rose 11% after debuting its Muse AI agent.
More from AGI Musings
- "We've Reached Good Enough Intelligence" — Dev Says Focus on Speed, Not Smarter Models — charles_irl · 2026-09-22
- Token Demand to Bifurcate: "Good Enough" Models vs. Autonomous Research Labs — menhguin · 2026-09-22
- Critique: the closed circular world of AI Safety research, all funded by one guy — banteg · 2026-09-22
- If agents can shop for you, agent-native rivals will replace Zomato, Amazon and Blinkit — vaibhavbetter · 2026-09-22
- Book review: 'Silicon Sovereigns' examines AI, international law and the tech-industrial complex — ProfChesterman · 2026-09-22
- Academic argues substance and provenance matter more than whether text is AI-written — 3scorciav · 2026-09-22